RiverPark Short Term High Yield Fund - (RPHIX-Instl., RPHYX-Retail)

Overview

The Fund focuses on short term high yield securities for which they believe credit ratings do not accurately reflect a company's ability to meet their short term credit obligations. The Short Term High Yield Fund seeks to make investments in fixed income securities of companies that have announced or, in Cohanzick's opinion, will announce a funding event, reorganization or other corporate event that they believe will have a positive impact on a company's ability to repay their debt. Additionally, the Fund will invest in securities in which it perceives there is limited near term risk of default. In Cohanzick's view the risks associated with investing in short term high yield debt are very different from investing in long-dated paper in which operating performance and business sustainability are of primary concern.

Our Portfolio Manager

David K. Sherman

Principal, Cohanzick Management, LLC

Cohanzick Management, LLC (Cohanzick) of Pleasantville, New York serves as the Sub-Adviser to the RiverPark Short Term High Yield Fund. David K. Sherman founded Cohanzick in 1996 and serves as the portfolio manager primarily responsible for the investment decisions of the Fund. Prior to founding Cohanzick, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries.

Mr. Sherman holds a BS in Business Administration from Washington University.

Returns as of TBD

Returns as of Quarter Ending TBD

Total returns presented for periods less than one year are cumulative, returns for periods one year and greater are annualized.

Expense Ratio: Institutional: 0.89%, Retail: 1.18% as of the most recent prospectus, dated January 28, 2019.

The performance quoted herein is net of all fees and expenses and represents past performance. Past performance does not guarantee future results. High short-term performance of the Fund is unusual and investors should not expect such performance to be repeated. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost, and current performance may be higher or lower than the performance quoted.

The Fund offers two classes of shares. Retail Class shares have a shareholder services fee of up to 0.25% per annum of average daily net assets. Institutional Class shares have no shareholder services fee. For more information, please see the prospectus.

Holdings*

As of TBD

Security

% of Total Portfolio

Holdings Subject to change.

*The percentage weightings set forth above represent the market value, including any accrued interest, of each position divided by the net asset value of the Fund as of that date.

Investing involves risk including loss of principal. Accordingly, the purchase of Fund shares should be viewed as a long-term investment. There can be no assurance that a Fund will achieve its stated objectives. Some Funds may use leverage. If the securities decrease in value, a Fund that uses leverage may suffer a greater loss than would have resulted without the use of leverage. To the extent any Fund engages in short sales, losses are potentially unlimited and the expenses involved with the short strategy may impact the performance of the Fund. With the exception of RiverPark/Wedgewood, and RiverPark Floating Rate CMBS Fund, each Fund is "diversified", as that term is defined in the Investment Company Act of 1940. Bonds and bond funds are subject to credit risk, default risk, and interest rate risk and may decline in value as interest rates rise. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. Securities backed by commercial real estate assets are subject to securities market risks similar to those of direct ownership of commercial real estate loans including, but not limited to, declines in the value of real estate, declines in rental or occupancy rates and risks related to general and local economic conditions. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. Investments in smaller companies typically exhibit higher volatility.

To determine if a Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and other information may be found in the Fund's prospectus, which may be obtained by clicking here or calling 1-888-564-4517. Please read the prospectus carefully before investing.